July 9, 2019
Goldman Sachs Asset Management Private Real Estate, in a joint venture with Los Angeles-based Vista Investment Group, Green Leaf River Pointe, acquired a 387-unit multifamily property in Vancouver, WA. The seller and price were undisclosed.
The garden-style community is located northeast of downtown Portland, and new ownership plans to improve the asset through a unit renovation program that will include new flooring, upgraded lighting fixtures, stainless steel appliances and refreshed kitchen cabinets and countertops. The owners also intend to modernize the clubhouse, improve the pool deck and add outdoor amenities.
Vista Investment Group’s Michael Panich says, “Vista is thrilled to be working in partnership with GSAM on this investment. Their commitment to the joint venture, and this project in particular, is a true value-add to the execution of our business plan. The combined operational expertise, market knowledge and execution capability should prove invaluable on this and future investments through the partnership.”
Connect Bay Area is coming up July 18, 2019 at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.
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